0000899243-23-002860.txt : 20230127
0000899243-23-002860.hdr.sgml : 20230127
20230127164239
ACCESSION NUMBER: 0000899243-23-002860
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230125
FILED AS OF DATE: 20230127
DATE AS OF CHANGE: 20230127
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Berberi Ermelinda
CENTRAL INDEX KEY: 0001842377
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36746
FILM NUMBER: 23563789
MAIL ADDRESS:
STREET 1: 1633 BROADWAY, SUITE 1801
CITY: NEW YORK
STATE: NY
ZIP: 10019
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Paramount Group, Inc.
CENTRAL INDEX KEY: 0001605607
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798]
IRS NUMBER: 320439307
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 1633 BROADWAY, SUITE 1801
CITY: NEW YORK
STATE: NY
ZIP: 10019
BUSINESS PHONE: 212-237-3100
MAIL ADDRESS:
STREET 1: 1633 BROADWAY, SUITE 1801
CITY: NEW YORK
STATE: NY
ZIP: 10019
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2023-01-25
0
0001605607
Paramount Group, Inc.
PGRE
0001842377
Berberi Ermelinda
C/O PARAMOUNT GROUP, INC.
1633 BROADWAY, SUITE 1801
NEW YORK
NY
10019
0
1
0
0
See Remarks
LTIP Units
2023-01-25
4
A
0
15378
0.00
A
Common Stock
15378
15378
D
AOLTIP Units
6.17
2023-01-25
4
A
0
47911
0.00
A
2030-01-25
Common Stock
47911
47911
D
LTIP Units
2023-01-25
4
A
0
5129
0.00
A
Common Stock
5129
5129
D
LTIP Units issued pursuant to the Issuer's Amended and Restated 2014 Equity Incentive Plan. The LTIP Units vest in four equal installments on each of February 15, 2024, 2025, 2026 and 2027, subject to continued employment.
Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit will be converted automatically into a common unit of limited partnership interest ("OP Unit") in Paramount Group Operating Partnership LP (the "Partnership"). Each OP Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Issuer may, at its election, acquire each OP Unit so presented for one share of common stock. Such OP Units are generally not redeemable without the consent of the Issuer until two years from the date of the grant. The conversion feature of vested LTIP Units and the redemption rights for OP Units do not have expiration dates.
AOLTIP Units issued pursuant to the Issuer's Amended and Restated 2014 Equity Incentive Plan. The AOLTIP Units vest in four equal installments on each of February 15, 2024, 2025, 2026 and 2027, subject to continued employment.
Each vested AOLTIP Unit may be converted, at the election of the holder, into a number of OP Units in the Partnership, determined by the increase in value of a share of the Issuer's common stock at the time of the conversion over its exercise price. Each OP Unit acquired upon conversion of a vested AOLTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Issuer may, at its election, acquire each OP Unit so presented for one share of common stock. AOLTIP Units and the OP Units into which they may be converted generally may not be disposed of without the consent of the Issuer until two years from the date of the grant of the AOLTIP Units. The redemption right for OP Units does not have an expiration date.
LTIP Units earned upon the achievement of the performance hurdles pursuant to the 2020 Performance Program. Of the 5,129 LTIP Units, 2,564 LTIP Units vested on January 25, 2023 and the remaining 2,565 LTIP Units will vest on December 31, 2023.
Senior Vice President, Chief Accounting Officer
/s/ Gage Johnson as attorney-in-fact for Ermelinda Berberi
2023-01-27